I don't see how the alternative could realistically work. The options are limited. You need very specific type of connections, network, and background for this.
Maybe it didn't have to be this combination specifically but there are very few alternatives that position you for this opportunity. TSMC isn't something you can bootstrap or hack together as an entrepreneur.
That's where big name schools come into play. It's not about the knowledge. It's the networking, recognition, and connections. Connections are a very scarce resource just like gold is.